United States property &
casualty insurance market is expected to witness substantial CAGR during the
forecast period. Double-digit premium growth, lower catastrophe losses, and an
improved auto market are some key contributing factors to the growth in U.S.
property and casualty insurance market. Insurers are using big data analytics
to enhance their performance. Big data is being used in claim management,
pricing, underwriting and risk selection, among others. This growth is mainly
driven by increasing points of contact including social media, which provides a
bulk of data that can be transformed into insights and leveraged by insurers to
efficiently execute the settlement process.
Property & casualty insurance
market supports US consumers and businesses by facilitating protection against
damage caused by a variety of incidents including car accidents, medical
malpractices and catastrophe. This makes the industry a crucial part of risk
management in the domestic economy of United States. With thriving economy of
the country, the property & casualty insurance market is anticipated to register
significant growth in the coming years.
The United States property &
casualty insurance market is categorized based on insurance type, end user,
distribution channel and region. Based on insurance type, the market can be
segmented into automobile, home, office and others. Among them, the automobile
segment is expected to witness high growth during the forecast period owing to
the growth in automobile industry.
Major players operating in the United
States property & casualty insurance market include Berkshire Hathaway
Inc., American International Group Inc., Liberty Mutual Holding Company Inc.,
The Progressive Corporation, The Travelers Companies Inc., United Services
Automobile Association, Farmers Group Inc., American Family Mutual Insurance
Company S.I., W. R. Berkley Corporation and American Financial Group Inc. The
market is fragmented despite the recent increases in the federal funds rate, the
interest rates remain near historically low levels.
Objective of the Study:
- To analyze and estimate the market size of United
States property & casualty insurance market from 2017 to 2020.
- To estimate and forecast the market size of United
States property & casualty insurance market from 2021 to 2027 and
growth rate until 2027.
- to classify and forecast United States property
& casualty insurance market based on insurance type, end user, distribution channel, company and regional distribution.
- To identify dominant region or segment in the United
States property & casualty insurance market.
- To identify drivers and challenges for United
States property & casualty insurance market.
- To examine competitive developments such as
expansions, mergers & acquisitions, etc., in United States property
& casualty insurance market.
- To conduct pricing analysis for United States property
& casualty insurance market.
- To identify and analyze the profile of leading
players operating in United States property & casualty insurance market.
- To identify key sustainable strategies adopted
by market players in United States property & casualty insurance market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of property & casualty insurance providers across United
States. Subsequently, TechSci Research conducted primary research surveys with
the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research
could include the service providers who could not be identified due to the
limitations of secondary research. TechSci Research analyzed the presence of all
major players across the country.
TechSci Research calculated the market size of United States property & casualty
insurance market using a bottom-up approach, wherein data for various
end-user segments was recorded and forecast for the future years. TechSci
Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of
these services and end users for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target Audience:
- Property & casualty
insurance service providers, suppliers, distributors and other
stakeholders
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to property & casualty insurance
- Market research and
consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as property & casualty insurance service providers, suppliers, partners,
end users, etc., besides allowing them in strategizing investments and
capitalizing on market opportunities.
|
Attribute
|
Details
|
|
Base Year
|
2021
|
|
Historical Years
|
2017 – 2020
|
|
Estimated Year
|
2022E
|
|
Forecast Period
|
2023F – 2027F
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021 and 2022E-2027F
|
|
Report Coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments Covered
|
Insurance Type
End User
Distribution Channel
|
|
Region Scope
|
South-Region, West-Region, Mid-West Region & Northeast-Region
|
|
Key Companies Profiled
|
Berkshire Hathaway Inc., American International Group Inc.,
Liberty Mutual Holding Company Inc., The Progressive Corporation, The
Travelers Companies Inc., United Services Automobile Association, Farmers
Group Inc., American Family Mutual Insurance Company S.I., W. R. Berkley
Corporation and American Financial Group Inc
|
|
Customization Scope
|
10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
|
Pricing and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, United States property
& casualty insurance market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- United States Property & Casualty Insurance Market,
By Insurance Type:
- Automobile
- Home
- Office
- Others
- United States Property & Casualty Insurance
Market, By End User:
- United States Property & Casualty Insurance
Market, By Distribution Channel:
- Direct
- Agency
- Banks
- Others
- United States Property & Casualty Insurance Market,
By Region:
- Wales
- England
- Scotland
- Northern Ireland
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in United States property & casualty insurance market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis
in case of direct and indirect sales channel.
It is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]